Price for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in India - 2023
Contents:
- Price for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in India (CIF) - 2023
- Price for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in India (FOB) - 2022
- Imports of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in India
- Exports of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in India
Price for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in India (CIF) - 2023
In November 2023, the average import price for spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground amounted to $3,962 per ton, reducing by -19.5% against the previous month. Over the period under review, import price indicated tangible growth from November 2022 to November 2023: its price increased at an average monthly rate of +2.2% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2023 figures, import price for spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground decreased by -19.5% against October 2023 indices. The pace of growth appeared the most rapid in January 2023 when the average import price increased by 41% m-o-m. Over the period under review, average import prices hit record highs at $4,919 per ton in October 2023, and then fell sharply in the following month.
There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was Sri Lanka ($9,121 per ton), while the price for Nepal ($1,131 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Sri Lanka (+3.9%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in India (FOB) - 2022
The average export price for spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground stood at $7,221 per ton in 2022, declining by -5.4% against the previous year. Over the period under review, export price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground increased by +56.5% against 2018 indices. The pace of growth was the most pronounced in 2016 when the average export price increased by 98%. The export price peaked at $7,634 per ton in 2021, and then fell in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($8,705 per ton), while the average price for exports to Kuwait ($1,476 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+7.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in India
For the fourth consecutive year, India recorded growth in purchases abroad of spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground, which increased by 0.5% to 1.8K tons in 2022. The total import volume increased at an average annual rate of +9.8% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 when imports increased by 27% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.
In value terms, imports of spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground declined slightly to $7.3M in 2022. The total import value increased at an average annual rate of +3.4% from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 12%. As a result, imports reached the peak of $7.5M. From 2021 to 2022, the growth of imports of failed to regain momentum.
| Import of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Sri Lanka | 5.6 | 5.9 | 5.6 | 6.0 | 2.3% |
| Nepal | 0.4 | 0.8 | 0.9 | 1.0 | 35.7% |
| Vietnam | 0.3 | 0.7 | 0.7 | 0.3 | 0.0% |
| Indonesia | 0.3 | N/A | N/A | N/A | 0% |
| Others | 0.1 | N/A | 0.1 | N/A | 0.0% |
| Total | 6.6 | 7.5 | 7.3 | 7.3 | 3.4% |
Top Suppliers of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground to India in 2022:
- Nepal (849.0 tons)
- Sri Lanka (812.4 tons)
- Vietnam (123.3 tons)
- Indonesia (0.5 tons)
Exports of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in India
In 2022, exports of spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground from India expanded markedly to 617 tons, growing by 6.8% compared with 2021. The total export volume increased at an average annual rate of +9.4% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when exports increased by 28%. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, exports of spices; cinnamon (cinnamomum zeylanicum blume), neither crushed nor ground totaled $4.5M in 2022. Over the period under review, total exports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +21.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +78.5% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 59%. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in the near future.
| Export of Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground in India (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 1,420 | 2,174 | 2,542 | 2,670 | 23.4% |
| Canada | 195 | 239 | 416 | 440 | 31.2% |
| Australia | 177 | 227 | 351 | 315 | 21.2% |
| Italy | 1.0 | 24.1 | 32.7 | 157 | 439.5% |
| United Arab Emirates | 74.6 | 58.2 | 24.2 | 79.6 | 2.2% |
| Dominican Republic | N/A | N/A | N/A | 71.3 | 0% |
| Japan | 58.6 | 61.4 | 76.3 | 51.9 | -4.0% |
| Saudi Arabia | 31.0 | 32.7 | 25.7 | 43.0 | 11.5% |
| Kuwait | 31.6 | 33.6 | 10.5 | 16.6 | -19.3% |
| Others | 509 | 1,119 | 933 | 611 | 6.3% |
| Total | 2,497 | 3,969 | 4,412 | 4,457 | 21.3% |
Top Export Markets for Spices; Cinnamon (Cinnamomum Zeylanicum Blume), Neither Crushed Nor Ground from India in 2022:
- United States (306.8 tons)
- Canada (77.1 tons)
- Australia (44.4 tons)
- Italy (21.3 tons)
- Saudi Arabia (19.6 tons)
- Dominican Republic (18.6 tons)
- United Arab Emirates (12.3 tons)
- Kuwait (11.2 tons)
- Japan (9.4 tons)
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This report provides an in-depth analysis of the cinnamon market in India.
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This report provides an in-depth analysis of the global cinnamon market.
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This report provides an in-depth analysis of the cinnamon market in India.
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This report provides an in-depth analysis of the global cinnamon market.
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The pace of growth for Cinnamon imports was most rapid in June 2023, increasing by 77% compared to the previous month. In October 2023, the value of cinnamon imports decreased significantly to $11M.
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The global cinnamon market revenue amounted to $1.1B in 2018, dropping by -9% against the previous year. This figure...
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From 2007 to 2016, the global cinnamon market value fluctuated perceptibly. According to IndexBox estimates, a significant increase in 2008 (X% Y-o-Y) was followed by a slight drop in 2009 (X% Y-o-Y). Over the next two years, the market gradually in
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In 2015, the countries with the highest levels of cinnamon production in 2015 were Indonesia (X thousand tons), China (X thousand tons), Vietnam (X thousand tons), together accounting for X% of total output.
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Cinnamon production reached X thousand tons in 2016, with a positive dynamic being recorded over the last few years, except for a slight decline in 2010.
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Sri Lanka dominates in the global cinnamon trade. In 2014, Sri Lanka exported X thousand tons of сinnamon totaling X million USD, X% under the previous year. Its primary trading partner was Mexico, where it supplied X% of its total сinnamon expor
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The pace of growth for Cinnamon imports was most rapid in June 2023, increasing by 77% compared to the previous month. In October 2023, the value of cinnamon imports decreased significantly to $11M.
1090
The global cinnamon market revenue amounted to $1.1B in 2018, dropping by -9% against the previous year. This figure...
